4 Things to Consider as You Transition to Retirement

Retirement is a dream for many of us during our working years. “When I retire, I’m going to _________” is something you hear people say. Or, “I can’t wait to stop working retire.”

While it’s nice to dream about the things we’ll do, many people seem surprised to arrive at retirement — and not sure how to manage the transition. After all, you’ve been working your entire life, often since your teenage years. Suddenly, all this free time feels odd. Here are some general thoughts and points to consider if you’re nearing retirement age.

1. Find a hobby or volunteer project. The Monday after you retire probably feels incredible. You can sleep late, get up, and do just whatever you want! You can take a walk, read a book, watch TV all day if you desire. While this freedom is fantastic at first, we’ve met many retired people who find it boring after awhile. Men especially seem to struggle with their identity and even depression during retirement, having no purpose. Before you retire, start the transition by thinking about some hobbies. Plan a date after your retirement that you’ll take a class relating to your hobby or join a related group. Or, choose a nonprofit about which you feel passionate. Reach out to them about volunteer opportunities. Having a plan in place will give your retirement some life. (Or, keep working part-time, which more people are doing.)

2. Plan trips, sometimes. If you can afford to travel and it’s one of your retirement dreams, then get started! Nurses and retired people have reported to me that it’s best to start your travel early after your retirement because you will feel less motivated as you age. We don’t get to choose how well we age and how our health does, so get out there while you can. However, some people have also told me they feel like they are traveling all the time. So maybe plan a few trips a year: some closer to home and some adventures.

3. Build relationships. Of course not going to work every day is a big adjustment. What does that mean aside from your time? Retirement articles are full of advice about money, of course, and you’ll need to plan for that and healthcare, etc. But another loss you may be surprised about is the relationships and connections you have when working. As you approach retirement age, start re-building friendships or build new ones. Most of us socialize a bit at work, and even with a spouse or partner at home, you might feel lonely. Make sure you create fun plans with friends or family members regularly.

Think also about your relationship with your partner or spouse. Retirees report that this, too, will change due to the extra hours together. Consider how you’ll find ways to spend quality time together and still take time on your own as well.

4. Transition your stuff. A useful thing to do during retirement is to to sort through your stuff. You might be forced to if you’re moving to a smaller home. But even if you’re not, take some time — even if it’s just 10 minutes a day — to go through some things. We have talked a lot about leaving behind a legacy of stuff and how it can be a burden for your loved ones to manage. After all, they may feel guilt if they don’t know your wishes about things.

• Label items you want given to specific people or write out a document with those wishes and give it to your lawyer.
• Donate things you no longer want or use especially those related to old hobbies you have no intention of picking up again.
• Transition your yard, too. If you’re traveling a lot during retirement, for example, you might scale back your garden and plants. My mother-in-law did this, realizing she didn’t want any high-maintenance plants around because she was gone about half the year. On the other hand, if you’re taking up gardening again, you might go the opposite way.

Are you preparing for retirement? Talk to us about the transition.